Le Travenues Technology, the parent of travel platform ixigo, reported strong earnings for the April–June quarter of FY27 despite a challenging operating environment. Consolidated net profit rose 81% year-on-year to Rs 34.24 crore, supported by a 13% increase in revenue from operations to Rs 356.75 crore and a 19% rise in gross transaction value (GTV) to Rs 5,524.33 crore.
Performance across travel segments
Trains remained the company’s largest revenue contributor at Rs 141.04 crore, followed by flights at Rs 104.56 crore. The bus business delivered the standout performance, with GTV up 39% to Rs 947.43 crore and passenger volumes rising 33%. The bus vertical reported a contribution margin of Rs 54.22 crore, its highest to date.
In aviation, GTV increased 27% to Rs 2,341.84 crore, but passenger growth was muted at 4%. The company indicated a cautious near-term outlook for air travel, with a potential pickup expected around the festive period.
Operating environment and management commentary
Chairman and Group CEO Aloke Bajpai said external conditions were “not particularly cooperative,” citing geopolitical tensions linked to the Iran conflict, higher airfares, and capacity reductions by carriers including Air India and IndiGo. Changes to the train-ticketing framework—covering Tatkal and waitlisted categories—also affected rail volumes.
Hotels strategy and inorganic moves
Hotels remain a key growth focus. The platform recorded approximately 0.5 million stays (“heads on beds”) and expanded its direct supply to over 10,000 hotels across nearly 700 towns. In early July, the company completed the acquisition of a 54.66% stake in flexible-stay startup Brevistay, strengthening its presence in short-stay and hourly booking segments.
Profitability and investments
Adjusted EBITDA declined 7% year-on-year to Rs 29.24 crore as the company increased investments in hotels and artificial intelligence capabilities. On a sequential basis, profit after tax improved around 7% from Rs 32.05 crore reported in the March quarter.
Outlook
Management highlighted resilient travel demand overall, with buses emerging as a strong growth driver amid pressure in aviation and mixed trends in rail bookings. The company expects a more sustained recovery in air travel closer to the festive season while continuing to build scale in hotels and surface transportation.
